Link: https://www.sebi.gov.in/filings/processing-status/jun-2024/processing-status-issues_59558.html
Mcure Pharmaceuticals has been approved by market regulator Securities and Exchange Board of India (SEBI) for an IPO. The company had filed the Draft Red Hearing Prospectus (DRHP) with SEBI in December, 2023. Emcure-pharmaceuticals-ltd-gets-sebi-nod-for-ipo
According to the latest draft red hearing prospectus released last week, the IPO will raise Rs. 800 crore fresh issue of equity shares and offer for sale (OFS) of 1.36 crore equity shares. Under the offer for sale, promoters and shareholders will dilute their stake.
The funds raised under the fresh issue will be used for meeting general corporate purposes and repaying debts.
Amcure Pharmaceuticals is one of the top pharmaceutical companies in the country. which manufactures, develops and markets a wide range of pharmaceutical products in various key therapeutic areas as well as marketing them in global markets. The Company is a research and development (“R&D”) driven company, which includes oral, injectable and biotherapeutics. The company is able to reach target markets in over 70 countries with a strong presence in India, Europe and Canada.
Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India are the book running lead managers of the issue. It is proposed to list the equity shares allotted under the IPO on BSE and NSE.
